Canada’s IFRS Accounting Standards Discussion Group recently discussed the following only-in-Trump-World scenario: …the U.S. Supreme Court ruled on February 20, 2026, that the U.S. International Emergency Economic Powers Act (IEEPA) does not provide the executive branch of government with the authority to impose tariffs. The ruling invalidated tariffs U.S. President Donald Trump imposed in April…

A new IASB Chair is announced! His name is Sam Woods, and here’s the bio: Mr. Woods is a recognized leader in international financial regulation, having previously served as Deputy Governor of the Bank of England and Chief Executive Officer of the UK Prudential Regulation Authority (PRA). He succeeds Andreas Barckow, whose term as IASB…

Let’s check in again on the fast-moving KPMG Australia scandal, as handily summed up here: The KPMG Australia scandal began with a whistleblower’s 2024 allegations that senior partners misused confidential Lendlease board documents to gain an unfair edge in winning major audit mandates, including Westpac. The story exploded into the open in 2026 after parliamentary…

The Canadian Securities Administrators (CSA) recently published a consultation paper “seeking stakeholder input on potential ways to modernize securities legislation for public companies,” open for a 120-day comment period. Here’s how it sets out one item relevant to the subject matter of this blog. A reminder that in Canada, “venture issuers” generally refers to smaller public…

I came across a Substack page maintained by The IFRS Accountant… Do I mean an IFRS Accountant, you ask? Well no, in the sense that the author of the blog (who appears to be British) refers to themselves in the third person as such, otherwise maintaining anonymity other than to tell us: “After 35+ years…

Let’s return to the IFRS 18 concept of management-defined performance measures. You’ll recall that the new standard defines such a measure as ‘a subtotal of income and expenses that an entity uses in public communications outside financial statements; to communicate to users of financial statements management’s view of an aspect of the financial performance of…

Here are some extracts from the keynote speech at the recent IFRS Foundation conference, by Saker Nusseibeh, CEO of Federated Hermes Limited I am told there are some fifty-three jurisdictions represented today in this room and online, including standard setters, regulators and academics. – Which makes you, collectively, the custodians of something I have depended…

Let’s return to the IFRS 18 concept of management-defined performance measures. You’ll recall that the new standard defines such a measure as ‘a subtotal of income and expenses that an entity uses in public communications outside financial statements; to communicate to users of financial statements management’s view of an aspect of the financial performance of…

As part of its activities, the European Securities and Markets Authority (ESMA) organizes a forum of enforcers from 38 different European jurisdictions, all of whom carry out monitoring and review programs similar to those carried out here by the Canadian Securities Administrators. ESMA a while ago published some extracts from its confidential database of enforcement…

Reuters reported the following on June 5: Australia’s corporate regulator said on Friday it had launched a formal investigation into three KPMG Australia partners linked to whistleblower allegations the accounting firm misused confidential client data to win lucrative audit contracts. The Australian Securities and Investments Commission said it began a preliminary probe into KPMG in…